Chart Art: Trend and Range Plays on AUD/CAD and GBP/CAD

It’s all about the Loonie on today’s canvas, as we look at forex trading opportunities presented by AUD/CAD and GBP/CAD’s charts. Get ’em while they’re hot!

AUD/CAD: 4-hour

AUD/CAD 4-hour Forex Chart

Resistance alert! AUD/CAD is having trouble breaking above the .9350 area, which not only held as resistance in mid-October but also lines up with a falling trend line that hasn’t been broken since late June.

A short trade at current levels could get you in on the downtrend at a good price especially if you think that AUD/CAD will make new lows this year.

If you’re not a fan of the Loonie, though, then you could also wait for a break above the .9350-.9400 areas before placing your buy orders.

Forex Chart Settings:

This is the true story of one man, picked to live in front of his computer screen and find ways to make money from trading money. See what happens when markets stop being polite and start being real! Using charts, I show how current currency price action is playing out and chart patterns forming.

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